Waters urges CFPB staffers to be whistleblowers

Consumer Protection

Tuesday, February 26, 2019

Having asserted on multiple occasions that the Consumer Financial Protection Bureau (CFPB) diverted from its statutory mission, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) now is calling upon CFPB staffers to act as whistleblowers if they witness any actions within the bureau that threaten its consumer protection abilities.

Waters wrote to bureau employees, reminding them of their rights under federal whistleblower laws and encouraged them to not hesitate should they become aware of activity warranting the types of actions those laws protect.

The Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have issued information on the host state loan-to-deposit ratios, which are used to determine compliance under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Review the ratios in Dodd Frank Update’s Library.